Between 1860 and 1910, output in manufacturing, mining, and railroad freight hauling
a. expanded more rapidly than the labor force in these sectors.
b. grew at about the same rate as the labor force in these sectors.
c. grew more slowly than the labor force in these sectors.
d. expanded, while the labor force in these sectors declined.
a. expanded more rapidly than the labor force in these sectors.
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If the required reserve ratio is 5 percent, then the simple deposit multiplier is
A) 2. B) 5. C) 10. D) 20.
Coordinating policies when two countries have ________ exchange rates can increase the effect of ________
A) fixed; inflationary policy bias B) floating; inflationary policy bias C) fixed; the locomotive effect D) floating; beggar-thy-neighbor effect
________ is (are) the endogenous variable(s) in the Phillips curve
A) Expected inflation B) Inflation C) The natural rate of unemployment D) all of the above E) none of the above
Fixed exchange rates require governments to have
a. control over the cuntry's exports b. anti-arbitrage investigators c. large quantities of gold d. trade surpluses e. foreign exchange reserves